Stock Screening

Wednesday, October 1, 2014

Time to revisit Guocoland.... big time accumulation is ongoing to prepare to next move ?


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Weekly Trend
Big picture, weekly trend we are riding wave 3 impulse wave, you can see the wave was temporary halted by fib 161.8%  projection target, which is about RM 2.08. The question raise at this moment is the trend will continue or a will reverse down ?


Daily Trend
The answer will be reveal through unfold the chart to smaller time frame which is daily or down to hourly chart. let take c closer look in to the chart 
Currently we are in extended wave 3 of 3 in main trend, med trend wave is correction wave, which is a complexity wave 4 correction, when wave 2 is simple correction, most of the time wave 4 is complex correction, let zoom down smaller wave, we are just completed FLAT, which is ABC... what is next ? I am anticipate contracting triangle is coming, which will offer opportunity for me to collect this stock... you can see I used hand drawing to drafted abcde contracting triangle....
many ppls said Elliot wave is very subjective and no accurate ... the answer for me yes or no... it like human have emotion, it will change according to the time, issue and ppls deal with this stock... you got to understand it like understand your love one ...
let come back to the stock analysis, let me share about the SPEC of the wave correction

Description
A Combination combines several types of corrections.
These corrections are labeled as WXY and WXYXZ if it is
even more complex. It starts for example with a Zigzag
(wave W), then an intermediate X wave, then a Flat (wave
Y) and so on. A so-called double or triple three is also a
Combination, but this pattern combines Flats separated by
X waves.
Rules and guidelines
• All types of corrective patterns can combine to form a
bigger corrective pattern.
• The rules and guidelines, as mentioned for other
corrective patterns apply.
• A triangle in a Combination should normally occur at the
end.
• Corrective patterns in a Combination normally show
alternation.
In which wave
Generally a Combination occurs mostly in B, X and 4, it is
less common in A and rare in 2.
Internal structure
For example a Zigzag, followed by a Flat, followed by a
Triangle has the following internal structure:

5-3-5(Zigzag)-5-3-5(X)-3-3-5(Flat)-3-3-3-3-3(Triangle).

Summary 
what is my take of Guocoland ??? something big is happening ...don't ask me what because I don;t know what are the news... the chart is my friend and I can read from it. big thing is coming
My action :
I will start buying
SL and TP pls refer to the KAKAO talk group,, it is free education group which is not give tip of trading advise... I don't disclose any TP and SL is to prevent stop hunting...

DISCLAIMER:

Stock analysis and comments presented on klseelwavetrading.blogspot.com are solely for education purpose only. They do not represent the opinions of klseelwavetrading.blogspot.com on whether to buy, sell or hold shares of a particular stock.
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